BRKR  Bruker Corporation

Exchange

NASDAQ

Sector

Capital Goods

Industry

Biotechnology: Laboratory Analytical Instruments

Market Cap.

3960.38B

Vuru Grade

55.36/100

Current Price

$24.69
+0.43 (+1.77%)

Growth Price

$17.21
Overvalued by 30.28%

Stability Price

$13.63
Overvalued by 44.79%

Company Metrics

  • P/E 25.99
  • P/S 2415.07
  • P/B 5.60
  • EPS 0.95
  • Cash ROIC 12.00%
  • Cash Ratio 0.84
  • Dividend 0.16 / 0.66 %
  • Avg. Vol. 736,300.00
  • Shares 169.10M
  • Market Cap. 3960.38B

Company Description

Bruker Corporation designs, manufactures, services, and markets life science and materials research systems. The company's Scientific Instruments segment provides advanced instrumentation and automated solutions based on technologies, including magnetic resonance, mass spectrometry, gas chromatography, X-ray, spark-optical emission spectroscopy, atomic force microscopy, stylus and optical metrolog... more


Download 10 Years of Financial Statements:
Income Statement   Balance Sheet   Cash Flow

News

Analyst Activity – BTIG Research Reiterates Hold on Bruker Corporation (NASDAQ ...
Market Exclusive - Feb 15, 2017
On 8/9/2016 Bruker Corporation announced a quarterly dividend of $0.04 0.72% with an ex dividend date of 9/1/2016 which will be payable on 9/23/2016.
Bruker Reports Fourth Quarter and Fiscal Year 2016 Financial Results - PR Newswire (press release)
Bruker Corporation (BRKR) Moves Lower on Volume Spike for February 15 - Equities.com
Bruker Corporation Stock Volatility Hits An Extreme Low
CML News - 8 hours ago
This is a proprietary realized volatility rating created by Capital Market Laboratories (CMLviz) based on a large number of data interactions for Bruker Corporation (NASDAQ:BRKR) . We examine the little used gem of daily stock volatility over a 20-day ...
Why Bruker Corp. Is Crashing 12% Today
Motley Fool - Aug 3, 2016
What: After reporting disappointing second-quarter financials and reducing its full year financial forecast, Bruker Corporation (NASDAQ:BRKR) shares were losing 12% of their value at 2 p.m. EDT today. So what: The mid-cap maker of scientific ...
Bruker and Oxford Instruments Announce Acquisition of Oxford Instruments ...
PR Newswire (press release) - Nov 17, 2016
17, 2016 /PRNewswire/ -- Oxford Instruments plc (LON: OXIG) and Bruker Energy and Supercon Technologies, Inc. (BEST), a subsidiary of Bruker Corporation (NASDAQ: BRKR), today announced that they have closed the acquisition of Oxford Instruments ...
The Bruker Corporation (BRKR) Issues Quarterly Earnings Results
DailyQuint - 22 hours ago
Bruker Corporation (NASDAQ:BRKR) posted its quarterly earnings results on Monday. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.37 by $0.09.
Bruker Corporation Forecasted to Post FY2017 Earnings of $1.08 Per Share (BRKR) - The Cerbat Gem
Evercore ISI Boosts Bruker Corporation (BRKR) Price Target to $26.00 - Sports Perspectives
Bruker Corporation (BRKR) Moves Higher on Volume Spike for February 08
Equities.com - Feb 8, 2017
Bruker Corporation (BRKR) traded on unusually high volume on Feb. 08, as the stock gained 2.53% to close at $24.71. On the day, Bruker Corporation saw 1.1 million shares trade hands on 8,400 trades. Considering that the stock averages only a daily ...
Bruker Corporation (BRKR) Scheduled to Post Earnings on Monday
Sports Perspectives - Feb 10, 2017
Bruker Corporation logo Bruker Corporation (NASDAQ:BRKR) is scheduled to release its Q416 earnings data on Monday, February 13th.
Bruker Introduces All-Optical, Simultaneous 3D Stimulation and Multiphoton ...
PR Newswire (press release) - Nov 14, 2016
SAN DIEGO, Nov. 14, 2016 /PRNewswire/ -- At the 46th Annual Meeting of the Society for Neuroscience, Bruker (NASDAQ: BRKR) today announced the release of the Ultima NeuraLight 3D™ simultaneous, all-optical stimulation and imaging platform for ...
Successful Earnings Option Trading: Bruker Corporation (NASDAQ:BRKR)
CML News - Feb 17, 2017
As we look at Bruker Corporation we note that a short put is one of the most common implementations of an option strategy, but the analysis completed when employing the short put often times lacks the necessary rigor especially surrounding earnings ...
Should one be buying Bruker Corporation (NASDAQ:BRKR)?
FactsReporter - Feb 9, 2017
Bruker Corporation (NASDAQ:BRKR) moved up 2.53% and closed its last trading session at $24.71. This Computer and Technology Sector stock currently has the Market Capitalization of 3.91 Billion.
The TIAA CREF Investment Management LLC Sells 194634 Shares of Bruker ... - DailyQuint
Growth Rate Assumed by Market

We did a reverse valuation to calculate the growth rate the market is assuming for BRKR to be considered fairly valued at its current market price. It's useful to compare this to the growth rate we're assuming for the Growth Price.

Future Free Cash Flow Growth Rate

This is the annual growth rate we've applied to calculate BRKR's Free Cash Flow for the next 10 years. To calculate it, we looked at several time periods of the last 10 years. Feel free to adjust it, but we limit the initial growth rate to 20% and slow it down over the years. Otherwise, long-term sustainability issues come into play.

Discount Rate

The discount rate is the annual rate of return an investor requires to take the risk of investing in a single stock. To account for that risk, this should be above 8-10%, as this is the avg. annual rate of return for the S&P500 over the past 100 years.

$24.69 Current Price

$17.21 Growth Price (DCF)

Overvalued by 30.28%


Growth Rate Assumed by Market: 24.69%


Future Free Cash Flow Growth Rate: 13.8%


Discount Rate: 15.0%


Show Free Cash Flow numbers

$13.63 Stability Price (EPV)

Overvalued by 44.79%


Discount Rate: 15.0%

$1.34 NCA Price

Overvalued by 94.57%

$20.21 Book Price

Overvalued by 18.14%


Growing Cash Return on Invested Capital over the past 5 years

BRKR has continued to efficiently invest its financial resources in buildings, projects, and equipment, resulting in increasingly stronger returns. Look at its Annual Reports to determine future sustainability.

BRKR has created $12.00 of cash for every $100 invested.
Figures in USD. Fiscal year ends in December
20112012201320142015
Free Cash Flow 33.30M 60.30M 94.70M 80.50M 195.00M
divided by
Invested Capital 708.70M 864.00M 901.00M 784.60M 708.00M
Cash ROIC 4.70% 6.98% 10.51% 10.26% 27.54%

Satisfactory Return on Equity over the past 5 years

BRKR has generated adequate returns with capital that shareholders have invested. This is sufficient and implies that management performance has been good.

BRKR has generated $11.56 of Earnings for every $100 of Shareholders' Equity.
Figures in USD. Fiscal year ends in December
20112012201320142015
Net Income 92.30M 78.20M 81.80M 59.60M 104.90M
divided by
Stockholders' Equity 621.50M 706.60M 846.10M 765.90M 726.10M
Return on Equity 14.85% 11.07% 9.67% 7.78% 14.45%

Excellent Business Performance over the past 10 years

BRKR has been able to maintain profitability in good times and bad. This could mean BRKR has an extremely strong business or has the ability to scale down costs when needed. This should be a fairly resilient business, but double check for future sustainability by looking at its Risk Factors in the Annual Report.

BRKR has created positive free cash flow for 9 or more of the past 10 years.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Free Cash Flow 30.07M 12.13M 59.50M 133.50M 124.20M 33.30M 60.30M 94.70M 80.50M 195.00M

Weak Balance Sheet

BRKR's financial position is not ideal. The key is to check whether BRKR is using debt to fuel its growth and the sustainability of that tendency. Highly capital intensive businesses (see Economic Moat) follow this route, which can deeply impact the future prospects of the business.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Cash 52.15M 72.88M 167.70M 207.10M 230.40M 246.00M 310.60M 438.70M 497.50M 468.30M
Current Assets 294.74M 395.63M 820.70M 873.50M 1.05B 1.19B 1.31B 1.43B 1.37B 1.23B
Total Assets 433.19M 553.21M 1.12B 1.17B 1.55B 1.71B 1.86B 1.99B 1.86B 1.73B
Current Liabilities 195.13M 252.95M 519.70M 540.20M 831.50M 755.80M 681.80M 648.60M 582.70M 554.60M
Total Liabilities 241.72M 294.55M 804.40M 754.80M 1.03B 1.09B 1.15B 1.14B 1.10B 1.00B
Stockholder' Equity 191.47M 258.66M 311.90M 417.20M 524.70M 621.50M 706.60M 846.10M 765.90M 726.10M
Current Ratio 1.51 1.56 1.58 1.62 1.26 1.58 1.92 2.21 2.34 2.22
TL-to-TA 0.56 0.53 0.72 0.64 0.66 0.64 0.62 0.57 0.59 0.58

Consistent Reinvestment of Profits over the past 10 years

BRKR has consistently retained profits. This may put BRKR in a strong position to invest for the future, by buying new machinery, investing in R&D or a number of other options. By effectively using these earnings, BRKR can greatly improve their long-term economic picture.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Retained Earnings 17.47M 48.25M 172.60M 253.80M 349.20M 441.50M 519.00M 599.10M 655.80M 757.40M
Retained Earnings Growth - 176.21% 257.76% 47.05% 37.59% 26.43% 17.55% 15.43% 9.46% 15.49%

Competitive Industry over the past 10 years

BRKR is likely operating in an industry with medium to low barriers to entry. This may mean that BRKR doesn't have a characteristic that's hard to replicate, such as exclusive distribution, branding or the ability to keep costs low. If Gross Margins are at least satisfactory, it's likely that BRKR invests heavily in R&D and Sales, General & Administrative expenses.

Only $5.46 of every $100 of Revenue have been profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Net Income 18.48M 31.53M 64.90M 81.20M 95.40M 92.30M 78.20M 81.80M 59.60M 104.90M
divided by
Revenue 435.83M 547.58M 1.11B 1.11B 1.30B 1.65B 1.79B 1.84B 1.81B 1.62B
Net Profit Margin 4.24% 5.76% 5.86% 7.29% 7.31% 5.59% 4.37% 4.45% 3.29% 6.46%

Strong Pricing Power over the past 10 years

BRKR has maintained substantial gross margins, suggesting that they have been able to set prices without consideration of the cost of goods sold. This potentially leaves flexibility in inflationary environments to raise prices on consumers and maintain profitability.

$49.58 of every $100 worth of sales have been Gross Profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Gross Profit 199.33M 253.14M 505.00M 518.60M 606.00M 1.47B 831.40M 805.20M 763.30M 708.60M
divided by
Revenue 435.83M 547.58M 1.11B 1.11B 1.30B 1.65B 1.79B 1.84B 1.81B 1.62B
Gross Margin 45.74% 46.23% 45.61% 46.53% 46.44% 89.27% 46.41% 43.78% 42.20% 43.64%

High Capital Intensity over the past 10 years

BRKR spends large amounts of capital buying new equipment or investing in new facilities to stay competitive. Over the long term, those costs may have to be fuelled by debt. Look at the growth of Shareholders' Equity to see if this strategy is having a positive or negative impact.

52.16% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Capital Expenditure 7.62M 16.08M 47.40M 16.30M 31.90M 54.40M 72.80M 50.30M 33.80M 34.20M
divided by
Net Income 18.48M 31.53M 64.90M 81.20M 95.40M 92.30M 78.20M 81.80M 59.60M 104.90M
Capital Expenditure Ratio 41.25% 51.00% 73.04% 20.07% 33.44% 58.94% 93.09% 61.49% 56.71% 32.60%

Good Dividend History over the past 10 years

BRKR has distributed dividends for the past 6 years. Remember, the longer a company's dividend history, the more established the company might be and the more reliable the future of the dividend probably is.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Dividend Paid - - 23.40M - 100,000.00 400,000.00 600,000.00 600,000.00 1.10M 1.30M
divided by
Shares Outstanding 102.56M 106.77M 165.60M 164.90M 165.70M 166.90M 167.40M 168.50M 169.50M 169.10M
Dividend Paid Per Share - - 0.14 - 0.00 0.00 0.00 0.00 0.01 0.01
Price at Year End 7.51 12.97 3.96 12.16 16.80 12.42 15.05 19.86 19.93 24.96
Dividend Yield - - 3.57% - 0.00% 0.02% 0.02% 0.02% 0.03% 0.03%

History of Stock Buybacks over the past 10 years

BRKR has some history of delivering increased value for shareholders in the form of stock buybacks. These have helped improve financial metrics and increase each shareholders' relative ownership stake in the company, due to fewer shares outstanding and holding the same number of shares.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Shares Outstanding 102.56M 106.77M 165.60M 164.90M 165.70M 166.90M 167.40M 168.50M 169.50M 169.10M
Stock Bought Back - -3.94% -35.53% 0.42% -0.48% -0.72% -0.30% -0.65% -0.59% 0.24%
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